ADB's commitment to invest in Dudh Koshi Project

Kathmandu: The Asian Development Bank (ADB) has expressed its commitment to invest in the 635-megawatt Dudh Koshi reservoir-type hydropower project.

A team comprising Executive Director of the Nepal Electricity Authority (NEA) Kul Man Ghising, ADB Director General Ramesh Subramaniam, and ADB-Nepal Resident Mission Director Arnaud Cauchois carried out onsite monitoring of the project. The team inspected the reservoir area and the powerhouse area.

It also interacted with people's representatives of local levels at Rabuwa bazaar of Khotang, the dam site. Saying the on-site visit by the high-level team to forward the project is almost the last inspection, Director General Subramaniam shared that financial management is going to be made soon under ADB's leadership.

He pointed out the need to start construction of the project by taking the technical, environmental, and social aspects to a conclusion as soon as possible. The estimated cost including interest on the construction period of the project is 2.20 US Dollars.

A total of one billion US Dollars would be invested from different international financial organizations under ADB leadership in the project. Of it, the ADB has expressed a commitment of 550 million US Dollars in loan investment in the project.

Similarly, ADB Nepal Resident Mission Director Arnaud mentioned that they have been actively working to accelerate the decision process and have been involved in talks with the government of Nepal frequently. He urged the local community to adopt forbearance as Dudh Koshi is a mega project and the largest dam project of the SAARC region so far.

RSS